PayNow Integration: How to integrate PayNow into an Ecommerce Website?


Admin - June 25, 2024 - 0 comments

PayNow is a popular real-time fund transfer service launched in Singapore in 2017. This seamless and secure payment method has quickly become a cornerstone in Singapore’s digital payment landscape, enhancing the efficiency and convenience of financial transactions.

In this article, we’ll talk about the various benefits associated with the use of PayNow for ecommerce businesses and then explain PayNow integration in details.

singaporean woman using PayNow mobile

PayNow Integration: Benefits to Know Beforehand

PayNow allows individuals and businesses to transfer money instantly using just the recipient’s mobile number, NRIC/FIN, or Unique Entity Number (UEN) without the need for a bank account number. Besides the ease of use, it offers several benefits, some of which have been stated below.

Convenience and Speed

One of the primary benefits of using PayNow is its convenience. Users can transfer funds anytime and anywhere, which is particularly advantageous for ecommerce transactions. Whether shopping on a website or making payments through a web application, PayNow facilitates instant payments, enhancing the overall customer experience. This immediacy is crucial in a fast-paced environment like Singapore, where speed and efficiency are highly valued.

User-Friendly Integration

PayNow’s integration into various ecommerce platforms and web applications has streamlined the payment process for both consumers and businesses. For merchants, incorporating PayNow as a payment option on their website reduces the complexity of managing multiple payment methods. This simplicity extends to the consumer side, where a few clicks can complete a transaction without the hassle of entering lengthy bank details.

Cost-Effective Solution

For businesses, especially small and medium enterprises (SMEs), PayNow offers a cost-effective alternative to traditional payment methods. Transaction fees are generally lower compared to credit card processing fees, which can significantly reduce operational costs. This financial efficiency is crucial in Singapore’s competitive ecommerce market, where maintaining low overheads can enhance profitability.

Enhanced Security

Security is a major concern in digital transactions. PayNow addresses this with robust security features, including two-factor authentication and encryption protocols. This level of security reassures users that their transactions on web applications and ecommerce websites are protected against fraud and unauthorized access. For Singaporeans, who are generally cautious about online security, this feature makes PayNow a preferred payment method.

Widespread Adoption

Since its inception, PayNow has seen widespread adoption across various sectors in Singapore. Many banks and financial institutions support PayNow, making it accessible to a large segment of the population. This widespread use extends to ecommerce and web applications, where PayNow is often offered as a standard payment option. The familiarity and trust associated with PayNow encourage more users to choose it over other payment methods.

Streamlined Business Operations

For businesses, PayNow simplifies the reconciliation process. Transactions are immediately reflected in the business’s bank account, reducing the time spent on tracking and verifying payments. This real-time update is particularly beneficial for ecommerce businesses that require prompt confirmation of payments to process orders efficiently. The streamlined operations enabled by PayNow can improve customer satisfaction and operational workflow.

PayNow Integration: Essential Steps

Integrating PayNow into an ecommerce website involves several steps, from setting up the necessary accounts to implementing the technical components on your platform. Here’s a comprehensive guide to help you integrate PayNow into your ecommerce website:

Prerequisites

Before starting the integration process, you need to know which prerequisites are a must. Here is a list of prerequisites to have.

  • Merchant Bank Account: Your business must have a bank account with a participating bank that supports PayNow.
  • Unique Entity Number (UEN): Required for businesses to receive payments.
  • Access to Developer Documentation: Provided by your bank or payment gateway service that supports PayNow integration.

Choose an Integration Method

PayNow officially allows businesses to integrate it into ecommerce websites in the following two ways, with each having its procedure to follow.

  • Direct Integration: Implement PayNow directly using the APIs provided by your bank.
  • Payment Gateway Integration: Use a third-party payment gateway that supports PayNow.

Direct Integration Steps

Here starts the technical part where you need to follow each of the steps carefully. So, double check each step before implementing.

Register for PayNow Corporate

  • Contact your bank to register for PayNow Corporate.
  • Provide necessary details, including your UEN, bank account information, and contact details.

Obtain API Documentation

  • Your bank will provide API documentation and credentials (API keys, secret keys).
  • Ensure you have access to the sandbox environment for testing.

Implement API Integration

  • Generate QR Code: Use the API to generate a PayNow QR code dynamically during the checkout process.
  • API Call: Make an API call to create a payment request. The API will return a QR code image or URL.
  • Display QR Code: Integrate the QR code into your checkout page for customers to scan and pay.

Handle Payment Notification

  • Webhook Implementation: Set up a webhook endpoint to receive payment status updates from the bank.
  • Update Order Status: Upon receiving the notification, update the order status in your ecommerce system.

Payment Gateway Integration Steps

At this stage, you need to select one of the payment gateway. You should choose the one that suits your business demands.

Choose a Payment Gateway

  • Select a payment gateway that supports PayNow (e.g., Stripe, HitPay, eNETS).

Set Up Merchant Account

  • Sign up for a merchant account with the chosen payment gateway.
  • Configure PayNow as a payment method in the gateway’s dashboard.

Install Gateway Plugin

  • Install the payment gateway plugin or extension for your ecommerce platform (e.g., WooCommerce, Shopify, Magento).

Configure Plugin Settings

  • Enter the API keys and credentials provided by the payment gateway.
  • Enable PayNow as a payment option in the plugin settings.

Test the Integration

  • Place test orders to ensure PayNow works correctly.
  • Verify that payments are processed and notifications are received.

Go Live

With all of the above steps completed and things are working as expected, you can go ahead and prepare for live implementation.

  • After thorough testing in the sandbox environment, switch to the production environment.
  • Update your website to point to the live API endpoints.
  • Monitor transactions and ensure everything is functioning smoothly.

Integrating PayNow into your ecommerce website enhances the payment experience by offering a fast, secure, and convenient option for customers. Whether you choose direct integration or use a payment gateway, following these steps will help you seamlessly incorporate PayNow, ensuring smooth and efficient transactions for your ecommerce business in Singapore.

Are you planning on getting ecommerce website design service and integrating PayNow as the payment method? Feel free to contact us or request a quote.

Related posts

 

Need Help? Chat with us